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August 02 [Thu], 2012, 10:57
Consumer confidence has dropped to the lowest level in 15 years as shoppers feel the strain of the credit crunch, according to a report out today.The monthly confidence barometer from Christian Louboutin Simple Pump 100mm Black Leather GfK NOP shows buyers have become gloomier about their personal finance as well as the general economy, and are equally downbeat about the future. Recent opinion polls have indicated that voter pessimism about the state of the economy is affecting support for the government."Consumer confidence again continues its downward trend Christian Louboutin Mater Claude 85mm Black for the seventh month in a row," said Rachael Joy from GfK NOP. "With news reports of possible recession in America, fears of recession in the UK, and stockmarket fluctuations, the consumer's gloom is growing. We will see if the budget announcements made this month improve Christian Louboutin Simple Pump 100mm Brown the mood of the consumer over the next few weeks."Today's Gfk data underlines findings from a CBI report showing that high street spending in Britain was subdued this month as the weakness in the property market took its toll on big-ticket goods for the home.The monthly snapshot of retailing from the employers' organisation found that almost the same number of shops and stores (36%) said business was brisker than a year earlier as those that reported an annual decline (35%). The balance of +1 percentage points was slightly better than retailers had been braced for in light of tougher borrowing conditions caused by the credit crunch, but the CBI said there had been a marked slowdown in the growth of high street activity in recent months.Data from the CBI's distributive trades survey showed that the three-month moving average, seen as more reliable than the findings from a single month, continued its gradual fall from its peak of +36 points last May to +1 point this month.Ian McCafferty, the CBI's chief economic adviser, said Christian Louboutin UK

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